Shams Free Zone License
Sharjah Media City (Shams) was launched in January 2017. The main aim of setting up Shams Free Zone was the growth of the creative and media business. It is a world-class media hub with innovative facilities and services. Shams Free Zone is nearest to Dubai. It is 15 minutes away from Dubai International Airport and 5 minutes away from Sharjah Airport. Shams Headquarters is in Sharjah whereas, it has an office outlet in Dubai. Sharjah has 3 seaports on Arabian Gulf and the Indian Ocean and an International Airport. Therefore, it possesses a strategic location. Sharjah’s GDP in the year 2020 was $24.81 billion. It is a highly reputed Free Zone, with an affordable fee structure.
List Of Business Activities in Shams Free Zone
The Sharjah Media City Free Zone offers to set up over 120 business activities. Shams media city Free Zone is not just related to media, but other activities like trading, professional services, holding, etc. Moreover, it provides the facility to combine different activities on the same license. Besides, there is an activity to suit all business models. SHAMS is a great option for start-ups and developing businesses. Listed below are some of the activities offered by Shams Free Zone:
- Printing and reproduction of recorded media
- Publishing of books, periodicals, software publishing
- Motion picture, video and television programme, production, sound recording and music publishing activities
- Programming and broadcasting activities, Telecommunications
- Computer programming, consultancy and related activities
- Data processing, hosting and related activities; web portals
- Advertising and market research, Photographic activities, Specialized design activities
- Creative, arts and entertainment activities
- Wholesale and retail trade; repair of motor vehicles and motorcycles
- Installation of industrial machinery and equipment
- Electrical, plumbing and other construction installation activities
- Warehousing and support activities for transportation
- Postal and courier activities
- Food and beverage service activities
- Financial service activities, except insurance and pension funding, Activities of holding companies
- Insurance, reinsurance and pension funding, except compulsory social security
- Activities auxiliary to financial service and insurance activities
- Real estate activities on a fee or contract basis, with own or leased property
- Accounting, bookkeeping and auditing activities; tax consultancy, Legal activities
- Activities of head offices; management consultancy activities
- Architectural and engineering activities; technical testing and analysis
- Scientific research and development
- Administrative and support service activities
- Employment activities
- Travel agency, tour operator, reservation service and related activities
- Services to buildings and landscape activities
- Office administrative, office support and other business support activities
- Arts, entertainment and recreation
- Repair of computers and personal and household goods
- Other personal service activities
Office facilities in Shams
Shams offers the following office facilities:
- Share desk (flexi-desk)
- Dedicated desk
- Shared office
- Dedicated office
Benefits of Setting up a company in Shams
- 100% exemption from tax and other duties.
- 100% ownership and repatriation of profits.
- Physical presence of the owner is not required at the time of registration.
- One of the most cost-effective Free Zones in the UAE.
- No need of paid up share capital.
- No need of annual audit.
- Foreign employees can be hired.
- Easy and fast online registration process.
Features of Setting up a Company in Shams
- Shareholders can be an individual or an entity with a maximum of 50
- A shareholder can also be the director (individual) of the company.
- A company set up in Shams need not present an audit report.
- It takes around 3-5 working days for the registration process and another 7-10 days for visa and immigration formalities.
- A person at the age of 19 can set up a business in Shams. Besides, employee’s age can be as low as 18 years. This feature is not available in any other Free Zone.
- There is no age restriction for an investor visa
- All documents are in electronic format and can be printed and verified anywhere, anytime through the website.
Types of Licenses Available in Shams Free Zone
- Service license: It is issued for production, re-production, transformation, and distribution of services. The primary objective is to render services and using the goods to provide them.
- Trading license: It includes movement, wholesale-retail, and rendering services related to the sale of goods within Shams. It also includes the import and export of goods.
- Holding license: It gives license to holding standalone assets or stakes in other companies.
Types of Company Formation
There are two basic types of a company set up in Shams:
- Shams LLC company formation: A shams LLC is an independent body where shareholders and owners are separate from the company. The company liabilities are therefore only of the company, not the shareholder’s personal liability. Thus, this company is an Independent working company.
- Shams Branch company set up: A branch company in Shams free zone has a place with a current office. Moreover, all operating expenses, debts, and costs of a branch are the costs of the parent company.
How to Apply for Trade License in Shams Free Zone
- Firstly, you have to identify the legal form of the company
- Secondly, select an activity from Shams activities list
- Thirdly, fill in the application for trade name approval and initial approval.
- Fourthly, pay the required fees for company setup
- After that, sign the company registration and incorporation documents
- Finally, apply for a residence visa.
The company renewal process is the same as the setup process. Moreover, the fees required for the renewal are also the same as setup. Amendment cost is around AED 2000. However, during the renewal, the amendment of the license is free. The liquidation cost of the company is around AED 2000. It takes 4-5 days for the completion of the liquidation process for a Zero visa license package.
Cost of Trade license in Shams Free Zone
Shams is considered to be a highly affordable Free Zone. The cost of the license depends on the number of visas required and they provide different offers each month, contact us for the latest offers.
How many visas can we get in Shams?
Before setting up a company in Shams, a foreign investor needs to get a visa. Shams has the most flexible system of visa allocation. A company is eligible for 0-6 visas. All visas are valid for 3 years. Moreover, one can upgrade the package at any time. To apply for a visa in your company, you have to rent a Flexi-desk and pay the visa allocation fee. For a resident visa under Shams, get health insurance or sign an undertaking to do it within the next 10 months. Besides, multiple shareholders are eligible for a partner visa. The most popular is the 1 visa quota. But, a multi-year visa is the most economical and easy. This is to avoid hassle during renewal. Two types of Visas are available:
- Investor/Partner Visa
- Employee Visa
If you are wishing to set up a business in Sharjah Media City Free Zone, consult Beyond View business consultants. We offer personalized consultancy services to help clients in the company formation process, like licensing, registration, etc.